Federal Direct Unsubsidized Loan
Who is eligible?
Undergraduate, graduate, and professional students are eligible. Eligibility is not based on financial need.
How do I apply?
Complete the Free Application for Federal Student Aid at: studentaid.gov
BHSU will send you a financial aid offer indicating your maximum Federal Direct Subsidized Loan eligibility and will provide you with instructions on how to accept it. Please review the Award Handbook for your rights and responsibilities as a student borrower and if you have questions, please contact the Financial Aid Office.
Once student has completed paperwork, the student is awarded aid. Direct Unsubsidized Loans are based on remaining cost after all other aid is awarded. When reviewing eligibility, all Subsidized will be given prior to Unsubsidized.
- Maximum Annual Eligibility:
- Dependent Students
- Freshman -- $5,500 (no more than $3,500 of this amount may be in Subsidized loan)
- Sophomore -- $6,500 (no more than $4,500 of this amount may be in Subsidized loan)
- Junior/Senior -- $7,500 (no more than $5,500 of this amount may be in Subsidized loan)
- Independent, Graduate/Professional Students
- Freshman -- $9,500 (no more than $3,500 of this amount may be in the Subsidized loan)
- Sophomore -- $10,500 (no more than $4,500 of this amount may be in the Subsidized loan)
- Junior/Senior -- $12,500 (no more than $5,500 of this amount may be in the Subsidized loan)
- Graduate/Professional -- $20,500 (not eligible for the Subsidized loan)
- Cumulative Totals (no more than $23,000 of these amounts may be in the Subsidized loan):
- $31,000 dependent undergraduate students
- $57,500 independent undergraduate students
- $138,500 graduate/professional students
Cost & Fees
- up to 1.1% fee on each loan.
- Interest begins accruing at time of disbursement. Students are encouraged to make interest payments while in school, however, they can let the interest capitalize making the loan an extremely higher loan.
- Interest rate is a fixed 2.75% for undergraduate Unsubsidized loans and 4.30% for graduate/professional Unsubsidized loans, beginning July 1, 2020. New interest rates will be determined each July 1, with that interest rate being fixed for the life of that loan.
- Interest begins accruing from the date the funds are disbursed. The borrower may make the interest payment or have them capitalized. Payments may be deferred up to six months after graduation, withdrawal, or dropping below half-time enrollment. $50 minimum monthly payment; 10-year maximum repayment period.
- For more information about repayment please contact your loan servicer(s).
- Review studentaid.gov for your servicer and total borrowings of federal loans